NanoMalaysia inks MOU with Malaysian Rubber Council to commercialise local IPs
10 Dec 2022, 00:00 AM SGT
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KUALA LUMPUR (Dec 10): NanoMalaysia Bhd (NMB), the agency of nanotechnology and advanced solution commercialisation under the Ministry of Science, Technology and Innovation, has signed a memorandum of understanding (MOU) with the Malaysian Rubber Council (MRC) to promote successful uptake and commercialisation of local intellectual properties (IPs) and products developed by Malaysian companies related to the rubber industry.
In a recent statement, NMB said the development and commercialisation of rubber and other commodities align with the National Agricommodity Policy 2021-2030 and the National Nanotechnology Policy and Strategy 2021-2030.
NMB chief executive officer Dr Rezal Khairi Ahmad said Malaysia's rubber industry had gone through numerous cycles of interest under the nation's economic development plan aiming to inject higher value into the said commodity.
“The MRC-NMB partnership provides a platform to aggregate rubber innovation IPs first developed under the National Graphene Action Plan 2020, and now continuing through our Graphenovation programme under the 12th Malaysia Plan.
“The alliance will further the multibillion-ringgit national revenue projection by collaborating with local enterprises through NMB's venture builder model,” he said.
He said the activation of both supply and value chains from raw materials to high-value nanotechnology-enhanced finished products can be planned and executed through the unique venture builder investment model to address a global market size for rubber additives of more than US$42 billion (RM184.95 billion).
Meanwhile, MRC CEO Nor Hizwan Ahmad said the joint partnership with NMB will boost the Malaysian rubber industry by encouraging new technological innovations and high-value creation to further stimulate demand for rubber products.